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20121112
20121112
Search Results 0 to 7 of about 8
in general. if you want to understand what the oil market has been this year and energy market in general, two key relationships. the first is between wti and brent. we have seen that thread work out to all-time highs. i believe right now december on december, is about $23. meaning the price of brent is $23 higher than price of wti. that can be explained by what came out of the report today. there's a shift taking place. obviously supply in the united states is at highs. and cheap oil in general is a very bullish thing for commodities. where cheap oil begins to become a problem like in 08 is if it's associated with weak economic growth. we need to keep that balance very close and watch that as we head throughout the week here. cheryl: john, one thing i will say as a caveat there is that the weather, which is always unpredictable looking like it is going to be a really rough winter, heating oil, things like that, are you making bets in those markets now? >> you know, it is funny because if you look at hurricane sandy and what it's done, i think short-term heating oil, reformulated gasoline
and we should do better still ahead, after pouring billions of taxpayer dollars and failed green energy companies, obama wants to do it again. what to expect in th next four years from this administration when it comes to managing your money. gerri: today was the first day of gasoline rationing in new york city and long island all because of hurricane sandy. gas rationing. drivers can only fill up every other day were put into place to stop the panic buying and it is borderline anarchy that was going on. long lines that took effect. you see a lot of calves in the line as well. governor andrew cuomo says it could top $50 billion and it would make it that second costliest storm behind hurricane katrina seven years ago. president obama is scheduled to visit the new york area next thursday to see the recovery operation firsthand. the definition of insanity is doing the same thing over and over and over again. and expecting different results. so how does this apply to obama's next four years in office? the green companies backed by your taxpayer dollars? they just grow and grow. many of them
right here in the usa. that's right, believe ii or not the international energy agency says the u.s. will become the world's top oil producer in five years. that would be amazing if it's true. what will it take to get there? i don't know. let's turn to oil guru stephen schork, founder and editor of the schork report. stephen, as always, welcome back to the show. >> great to be here, thank you. melissa: all this is predicated on tracking and shale. first of all do you think it is realistic? that is pretty quick time horizon? >> absolutely, melissa, and it is amazing when you make prices go high enough how much of a supply of given commodity there is out there. with all apologies to the bob dylan, the answer is not blowing in the wind. the answer is drilling beneath our feet. melissa: so let's do comparisons on a price basis because my thought on this we could outproduce saudi arabia at some price. saudi arabia the oil is sort of sitting right on top of the sand. we're talking about oil in the u.s. that is more expensive to get to. but at the same time we don't have to transport it
to have. that speaks to energy, certain types of medicine and technology, but beyond that, we're really pulling in our horns right now. charles: you would term these really, on, some sort of modern day version of widows and orphanses kind of fem nons. >> the gold mining, look to the picks and shovels, not to make a million. looking to the supplies for a million dollars. charles: in february, march of 2009, americans sold 50 billion dollars worth of equity mutual funds when they probably should have been buying 350 billion and a majority sold out because of president obama, in hindsight it was obviously an expensive mistake. do you think that knee jerk selling the market because the president has a second term could be the same kind of mistake. >> no question about it. the worst possible thing an investor can do. you need to be in the market for appreciation and income and need to use things like trailing stops, for example, that automatically make that decision for you, if you've got a market of millions of participants you're not smarter than that market. i'm not smarter than the marke
friday. >>> the u.s. international energy agency says the u.s. will be the top oil producer by 2017. the u.s. is in third place behind russia and saudi arabia. >>> hostess brands warning it may permanently close some of its plants if union members continue to strike. the action represents 5,000 hostess workers. that is today's david, speed read [buzzer] david: gooo work. hostess doesn't have twinkies anymore, does it? sandra: that doesn't matter. david: thank you, sandy. george lucaas is sell to the film companying to $4 billion this year may save him tens of millions of dollars of capital-gains taxes if he completes the deal before rates go up january 1st. while on a much smaller scale there are many more deals being struck before the clock strikes on a 15% capital gains rate. one of the deals is made by burt wolf whose okay again business was in his family since 1936 but he sold before the higher taxes kicked in. burt joins us now. you're thinking like a billionaire because presumably why george lucas wants to sell, right? >> if you say so. david: why are you selling? what is the
another reason, i believe in the power of markets. if you go back to the history of energy from day one today too, they are always running out of something. prices got high enough that we figured out a way to get more. i am very excited about it. i think it is great for the economy. it will be a boom for the next ten-25 years. lori: hasn't found a bottom, do you think? >> i think it depends on europe. that seems to be the mover of every headline we get out of there. we are not sure if we have to test the 70s first oracle backup. there is a lot of economic uncertainty right now. it is the weakest demand of the year. i think if we get some clarity on that, though bowles will be coming back and oil. melissa: thank you so much. lori: reminding us that we found some support levels. it looks like the markets are getting some contraction to the upside. the dow up 40 points. let's go back to nicole petallides to update us now on the drivers. nicole: we are seeing the markets take off. sessions highlight in this 1:00 p.m. hour. the market is really beginning to pick up some steam. all three of o
all of us giving to some people. a few benefit like clean energy then you might get the money and some of the with the defense contractor in favor of mitt romney that is good for your business but bad for the economy in general to tax some people. romney had a good line you n't just pick winners and losers but you pick the losers. john: they could the random selection people look at politician as the person to solv every problem? president obama was the magic president. these people were waiting three hours. he is magic. >> they've really feel he has the intrinsic quality now they he has been reelected to change people's lives like he has only been warming up. for what? it is terrifying. john: people felt this way about romney. >> but obama is a classic example of the colt of the presidency the idea tht any politician can fix all the problems is not start with the obama but is the attitude we should get rid of racism. he should stop the rise of the oceans and get everybody house. i saw a teenager said he should give everybody a house. kids say that is understandable. but adults are sup
from phil flynn as a fox business contributor. >> who said we cannot drill our way to energy independence? we are doing it with fracking and it is driving prices lower. probably not because of this because people in the industry have known this is coming for some time but today oil prices down a little bit after lessening of concerns and little bit about what was going on with the global economy. under pressure in recent weeks, concerns of economic growth. down a little bit today because of concerns going on. prices have been the one that have been hired today. concerns about the buzzard oilfield has gone down, kept rises up. gasoline strong one in the energy complex today. back to you. dennis: i love fracking. thank you, phil flynn. >> thank you, sir. cheryl: say it ain't so. the end of the twinkie, cohost, wonder bread, this is a bad situation. dennis: and "skyfall" skyhigh open. new details ahead. speak on tracy byrnes with your fox business brief. wall street has lingering concern about the fiscal cliff weighing on the market. the dow was only up about four points. meanwh
Search Results 0 to 7 of about 8